GrowGeneration CEO Says Hydroponic Supplier Is A Public Company Success Story

GrowGeneration Corp. GRWG, the largest hydroponic equipment supplier for commercial and at-home growers, first went public via OTC markets before uplisting to the Nasdaq in December.

The company has capitalized on the move and seen increased institutional interest and liquidity that has helped it to open 26 organic garden centers across nine states, co-founder and CEO Darren Lampert said Monday at the Benzinga Cannabis Capital Conference in Miami Beach.

“[It’s] sad we don’t have as many public company success stories,” he said.

Shareholders want a powerful and driven company backed by solid finances, and they're looking for "extremely aggressive mission statements," the CEO said.

Often times, cannabis companies don’t have a significant differentiator, Lampert said.

"If you look at the business play, it’s budgets, budgets, budgets."

Tickets to the next Benzinga Cannabis Capital Conference in Detroit, Michigan April 1 are available now.

Lampert said aspiring public companies ought to hone in on a certain niche or target consumer and take steps to create a healthy corporate environment.

“Do it right. Keep the industry and patients happy."

GrowGeneration has energized itself as a company, investors and target consumers by keeping them engaged, offering incentives and increased benefits to workers and taking initiative to evolve with the industry and offer new growing solutions, the CEO said.